New Ways Of Project Financing Research In The Application Of Our Port

With the rapid development of our national economy, port infrastructure cannot meet the need for waterway transportation, China is now facing various difficulties. The present port capacity is insufficient, whereas the construction and operating of the state-owned ports are inefficient. This thesis resort to project financing to solve the unfavorable situation and inquire into the project financing on ports building. The present paper concentrates on the analyses of the nature and economic characteristics of ports and how project financing satisfies the fund demand for ports building. Following the discussion of project financing methods and their applications in infrastructure construction, this thesis focuses on the attributes of ports, such as quasi-public goods, natural monopoly, external economies and high return ratio and how these attributes influence the choice of project financing methods. In this thesis, ports are categorized according to their scale, economic performances and the risks involved. After a tentative study on these ports, it is suggested that different methods of financing should be applied to ports of different characteristics. All these researches may be taken as references for the administration of port authorities and other relevant departments, They may also facilitate the investment of foreign funds on port infrastructure.